The Economist has a State Watch article on Indiana. (h/t Michael Ausbrook). The article focuses on Indiana’s economic health. I think its praise for Governor Daniels is overstated, but it’s undeniable that we are doing better than Michigan. For his part, Governor Daniels is quoted with a (to me) bizarre metaphor about Indiana and the recent economic troubles.
The recent downturn, he says, â€œis like being the best-looking girl in school, then they called off the prom. But the music will start again.â€
Looks fade and the prom is a brief event which is why I wouldn’t have used this as a metaphor for Indiana’s long term economic prospects. On the other hand, I very much enjoy Indiana economist, Morton Marcus’s metaphor:
Less powerful unions and ample foreign investment make the state what Morton Marcus, a prominent local economist, calls â€œthe middle finger of the South thrust into the North.â€
The article suggests that Indiana has one foot in the past and one tentative, wobbly toe in the future. We have been very dependent on manufacturing and this latest round of GM pull backs is going to take its toll. But, not all is lost. We have a promising position in the life sciences with Lilly and medical device manufacturers like Zimmer. And, Indianapolis is having its troubles, but it’s in much better shape than Detroit (not exactly high praise).
Definitely worth reading the article.